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Employee Benefits

EMPLOYEE BENEFIT STRATEGY

Initial Consultation

DESIGN ANALYSIS

Our FREE consultation and analysis includes reviewing your current benefit structure, company culture and financial objectives, as well as employee needs. We also use a combination of claims data and survey benchmarking to help us design a package that fits the needs of both employer and employees.

Employee Well-Being

COST SAVING STRATEGIES

We’ll consider cost saving strategies such as Wellness Programs with tools, tips and trackers, as well as offering Voluntary Benefits to help employees offset healthcare costs. This approach to benefits has been proven to increase productivity, moral, employee loyalty, all while reducing costs.

Insurance Partner

INDEPENDENT AND UNBIASED ADVOCATE

With nearly 50 years of experience, we act as an advisor, not a sales agent. We are well-known throughout industry and leverage our relationship with multiple carriers and other vendors to get the best pricing and service for our clients.

Benefit Management

ONGOING SERVICE & MAINTENANCE

As an employer, sponsoring a benefit program can be tedious and time consuming. We handle onsite implementation, employee communications, and onboarding and new hires. We also assist with claims and billing issues and perform proactive timely renewals. When it comes to the management of your benefit programs, our goal is to do as much as we can, allowing you more time to focus on other important matters.

HR Technology

ONLINE ENROLLMENT

When you work with ABA, you’ll have access to easy on-line enrollment for medical, dental, life, disability and any other benefits offered. Enjoy 24/7 access to summary of benefits, plan descriptions, claim forms, provider directories and more.

EMPLOYEE BENEFIT OFFERING

Traditional Group Health

HMO & PPO Plans from top national carriers, designed for small, medium and larged size groups.

Self-Funded Health Plans

Designed for small, medium & large groups, offering a significant savings in the cost of benefits.

Partially Funded Plans

Partner with the carrier to reduce your risk while still saving on benefit costs.

Premium Only Plans (POPs)

A flexible arrangement that saves employers & employees on premiums, taxes and paperwork.

Group Dental & Vision

Offered as a paid or voluntary benefit, a staple benefit proven to promote overall health.

Group Life Insurance

Offered as a paid or voluntary benefit, an essential part of the group benefit offering.

Group Disability

Surveys show that disability insurance tops the list as one of most desired benefits by employees.

Group Medicare

Eligible employees receive a higher level benefits when compared to regular Medicare.

Flexible Spending Account (FSA)

An FSA allows employees to save money by paying for health care costs with pre-taxed dollars.

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Traditional Health Plans

A Health Maintenance Organization (HMO)

An HMO group health plan requires group members to obtain their health care services from doctors and hospitals affiliated with the HMO.  Thus, members are required to designate a primary care physician within the HMO.  Then, the primary care physician treats and directs health care decisions.  In addition, the primary care physician coordinates referrals to specialties within the HMO network.  Accordingly, HMOs offer access to a comprehensive package of covered health care services in return for a prepaid monthly amount (or “premium”).  However, most HMOs charge a small co-payment depending upon the type of service provided.

Preferred Provider Organization (PPO)

If you belong to a PPO group health plan, you will save the most money on healthcare if you use providers within the PPO network. Thus, if providers outside of the network are used, it is possible that those services may be covered only partially or not at all.  Also, deductibles must be met on this plan before some services will be covered. PPOs require a co-pay for physician visits and some other healthcare services.  However, the great thing about a PPO is it’s rich network of quality doctors and healthcare facilities, and the ability to utilize healthcare services outside of your deductible.  For example, doctors visits.

Health Savings Account (HSA)

An HSA combines a high deductible, lower premium group health insurance plan (PPO) with a savings account.  Accordingly, both employer and employee can contribute, tax-free, to the savings account. Then, the account is used to help fund the deductible and other qualified medical expenses. Once the deductible is met, the insurance starts paying.

Health Reimbursement Account (HRA)

An HRA combines high deductible, low premium health insurance plan with a tax favored savings account.  Consequently, this plan requires that the employer contribute to the savings account.  Then, the account can be used to fund co-pays and other qualified expenses submitted by the employee, prior to the deductible being met.

Single, Dual or Triple Option Plans offer eligible employees a choice between several different types of plans as described above.

Through our thorough analysis and plan design process, we can help you determine which traditional health plan is right for your company.

For a quote, please click here and close this window.

Self-Funded Health Plans

When employers self-fund their own group health plan, they will benefit from a significant savings in the overall cost of their benefit programs.  For example, savings may be in premiums, increased cash flow and certain tax advantages.  Additionally, employers have more control over the benefits that the plan offers. Typically, self-funding was not available to small employers in the past.  However, today self-insured group health plans are considered to be good options for both small and large employers.

The experienced benefit consultants at ABA specialize in helping employers set up and maintain self-funded health plans.  Accordingly, we would be happy to give you a no cost analysis to determine if a self-funded health plan option is right for your company.

How self funding works.

A self-funded group health plan requires the employer to become the insurer. Most often, employers will partner with a PPO to provide services for the plan. Then, a third party administrator (a TPA) is engaged to handle claims and processing.  Self-insured employers run the risk of large catastrophic claims. As a result, they will purchase stop-loss insurance to protect them in such an event. Even with the additional expense of stop-loss insurance, employers can enjoy saving thousands in premiums and other advantages.

For a quote, please click here and close this window.

Partially Funded Plans

Shared Funding Plans allow small employers to take advantages of all the cost saving and benefit design features of a self-insured plan.  Typically, these plans have been designed for larger groups. However, in today’s market, any small or large group could benefit greatly by the cost saving opportunities of a shared funding plan.

Here’s how it works.

An employer will select any of the fully insured plans that the carrier offers.  Then rates will be determined by the group’s claim history.  Next, stop-loss insurance is added to protect against catastrophic claims.  Additionally, just like an insured plan, the carrier will handle the administration of the plan. This includes processing claims, in addition to offering members online access to their benefits.

Advantages of Shared Funding

The premiums for shared funding plans are generally much lower than fully insured plans.  That is because the employer shares some of the risk. Additionally, an employer may save even more by implementing wellness programs into the benefit programs.  Our thorough plan analysis will help you determine if shared-funding is right for your company.

For a quote, please click here and close this window.

Premium Only Plans (POPs)

A Premium-Only Plan allows employees to purchase their own individual insurance with pre-tax dollars. In other words, employees can potentially save thousands annually in taxes and premiums combined.

How does a POP work?

Employees elect a set amount of pre-tax dollars to be deducted from each payroll. Then, the employee purchases an individual health insurance policy from a carrier of their choice.  Accordingly, the employee is responsible  responsible for paying the monthly premiums directly to the carrier. Then, the employee is then reimbursed by the employer for the monthly premium with the pre-taxed dollars.  After a thorough plan analysis, we can help you determine if a POP program would benefit you and your employees.

For a quote, please click here and close this window.

Group Dental & Vision Plans

Employees always appreciate dental & vision coverage as part of their Employee Benefits Package. We offer individual, group or voluntary Dental & Vision through many of our major insurance carriers.

Dental Plans

Studies have shown that regular dental exams help employees to stay healthier and more productive in the work place. Additionally, you can detect serious underlying conditions such as heart disease and diabetes, through regular dental exams. In fact, the National Association of Dental Plans and the Centers for Disease Control have performed studies that show that employees with dental insurance have better attitudes and are less likely to suffer from depression, a common condition in today’s fast-paced world.

Dental insurance offers a variety of diagnostic, preventative care and corrective services. This includes cleanings, exams, x-rays, fillings, root canals, orthodontia for children, and emergency care while traveling.

Vision Plans

Similar to dental policies, vision plans are inexpensive and save employees money on routine eye care. Examples of care include exams, eyeglass frames and lenses, contacts, and even discounts on procedures like LASIK. Additionally, monitoring your eye health with regular exams helps to prevent serious eye diseases like glaucoma and cataracts. In addition, regular eye exams help to detect early stages of diabetes, high blood pressure, and high cholesterol.

For a quote, please click here and close this window.

Group Life Insurance

Employees are more productive when they feel secure that their loved ones will be taken care of, in the event of illness or an untimely death. Thus, you should consider life insurance a key part of the benefit package for your employees. And, also a valuable tool in attracting top talent.

Whether employer paid or voluntary, a good life insurance policy provides for an employee’s final expenses, taxes, and mortgage. Additionally, it may even pay for their children’s education.

Accordingly, ABA can help employers protect their employees and their employees’ families with a variety of different life insurance products.

Permanent Life Insurance
This type of life insurance builds cash value which is sometimes used as collateral for loans, if needed. However, most employers only offer basic term life insurance (see below), but also offer permanent life insurance on a voluntary basis. Even so, employees appreciate the opportunity to widen their safety net.

Term Policy
This type of life insurance does not build cash value. However, it will pay a set amount to the named beneficiary upon the death of insured within the stated term. Additionally, some policies may also make payments upon terminal or critical illness.

For a quote, please click here and close this window.

Group Disability
Disability Insurance

National surveys have shown that Short Term Disability and Long Term Disability remain of high importance for most employees. Thus, savvy employers attract and retain top talent by offering both STD and LTD insurance as part of the employer paid benefit package or as a voluntary (worksite) benefit.

Here’s how Disability plans typically work.

Short Term Disability

During the time an employee is unable to work due to a qualifying disability (illness or injury), STD generally allows for income payments to the employee to begin after about a two-week waiting period and will continue to pay the employee until he/she recovers or maxes out the benefits–usually anywhere between one month to two years, depending on the policy.

Long Term Disability

During the time an employee is unable to work due to a qualifying disability (illness or injury), LTD generally allows for income payments to the employee to begin after about a 90-day waiting period.  However, it could be much longer depending on the policy.  The policy will pay the employee far longer than STD–for a few years, up to age 65, or even for life.

For a quote, please click here and close this window.

Group Medicare

We help employers who provide medical benefits to their retirees tackle the challenges of ever increasing premiums and health care costs.  We offer a guaranteed issue “true group” approach where eligible employees and their spouses will receive all the benefits of Medicare and more with a quality Group Medicare Supplement through one of our top carriers.

What is a Medicare Supplement?

Medicare Supplement Insurance policies complement your retiree’s original Medicare Parts A and B. They cover some, if not all, of the expenses that Part A and B do not cover, like co-pays, deductibles and other charges.  Dental, vision and hearing wellness benefits may be included.

For a quote, please click here and close this window.

Flexible Spending Accounts

A Flexible Spending Account is a cafeteria plan under Section 125 of the tax code. In other words, it is a tax favored savings account and is funded solely by the employee through regular pre-tax payroll deductions. Accordingly, the funds (account) can be withdrawn tax-free to pay for eligible medical, dental, vision, prescription and dependent daycare expenses. Additionally, employees elect how much they want withdrawn from each pay period, which can be changed annually or upon a qualifying event such as marriage or divorce. For example, the average working employee in America spends more than $1,000 annually on these types of benefits. By participating in a FSA, an employee’s taxable income is reduced, which increases the percentage of pay they take home.

For a quote, please click here and close this window.